In this report, we set out to get smarter on drones and ended up with a much broader view of where the market is going and where value is beginning to accrue. What we found is an ecosystem moving quickly from experimentation toward real procurement, real deployment, and increasingly real commercial use, with governments and customers placing more weight on systems that can be trusted, scaled, and supported. Our report attempts to lay out how we see the market, the companies shaping it, and the themes that came through most consistently in our work. A list that compares the companies we reviewed to test this thesis and should provide a strong starting point for interested investors can be found in Exhibit 9.
